On January 1, 2007 the Johnson Corporation issued a two-year note due December 31, 2008, with a face

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

On January 1, 2007 the Johnson Corporation issued a two-year note due December 31, 2008, with a face value of $10,000, receiving $7,694.68 in exchange.RequiredPrepare the journal entries to account for the note:1. On the date the note is issued2. At the end of 20073. At the end of 2008View Solution:
On January 1 2007 the Johnson Corporation issued a two year